The Quarterly for end of December 2023 shows cash in hand was just under eight million dollars.
I didn't spot this before, but in the Quarterly there is yet another loan made by EUR to CLE, but this one was paid back in cash
On 19 October 2023, the Company entered into a loan agreement advanced funds of $90,000 to Cyclone Metals Ltd. The loan was subsequently repaid on 16 November 2023 including interest which accrued at 7.5% per annum. Mr Tony Sage is a director of CLE.
Was Tony Sage himself bereft of $90,000? Or is this type of borrowing beneficial in matters such as tax liability?
EUR Price at posting:
6.7¢ Sentiment: Hold Disclosure: Held
